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During World War II in the Philippines, the occupying Japanese government issued a fiat currency in several denominations; this is known as the Japanese government–issued Philippine peso (see also Japanese invasion money). [1] The Japanese government outlawed possession of guerrilla currency, and declared a monopoly on the issuance of money ...
After World War II, an organization called "The Japanese War Notes Claimants Association of the Philippines, Inc." (JAPWANCAP) was founded on 8 January 1953. Its purpose was to pressure the Philippine and U.S. governments to redeem or pay a fraction of the value of the Japanese military issues of currency for the Philippines.
Emergency circulating notes were used in areas formerly occupied by Imperial Japanese forces. "Victory" pesos were brought over by Douglas MacArthur's forces to be used in tandem with the liberation of the Philippines under Imperial Japanese rule. Currency of Philippines 1944 – 1945 Succeeded by: Philippine peso
Furthermore, the fineness of Philippine fractional silver coins was reduced from 0.900 to 0.835 and worsened the quality of the local currency, and the introduction of Alfonsino silver coins in 1897 did little to improve the peso's exchange value.
Support I really love the way money looks as art sometimes!--Mark Miller 21:26, 3 October 2014 (UTC) Support Philippine money during the Japanese occupation is a rare find nowadays, each one costing tens of thousands of pesos today. To see a complete set for the benefit of millions of Filipino readers is worthy of being featured by Wikipedia.
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Also during World War II in the Philippines, the occupying Japanese government issued fiat currency in several denominations; this is known as the Japanese government-issued Philippine fiat peso. The first issue in 1942 consisted of denominations of 1, 5, 10 and 50 centavos and 1, 5, and 10 Pesos.
The authorization of the issuance of Philippine Silver Certificates were placed on the notes, "By Authority of an Act of the Congress of the United States of America, approved March 2, 1903." The first shipment of the currency were sent to the Philippines on September 1, 1903, and issued on October of the same year.